Moody's Improves Long-term Outlook For 11 Banks

Moody’s Ratings Service improved its long-term B2 rating outlook for Bank Forum (FORM: BUY), Nadra Bank, Alfa Bank, Ukreximbank, Ukrsotsbank (USCB: BUY), Privatbank, Raiffiessen Bank Aval (BAVL: BUY), Calyon Bank, UkrSibbank, Index Bank and NRP bank, from Stable to Positive.  According to Moody’s the decision to raise the outlooks for this banks was connected to the company’s decision to improve its outlook for Ukraine’s B1-rated local and foreign currency medium-to-long-term government bonds to positive on November 10. Oleksandr Klymchuk: The warming trend among rating agencies towards Ukraine is continuing and we expect the other agencies to follow Moody’s lead in the near future.